DNB Asset Management Boosts Stake in Pinnacle West Capital

Institutional investor increases holding in Arizona utility company

Published on Mar. 4, 2026

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DNB Asset Management AS, a Norwegian investment firm, has increased its stake in Pinnacle West Capital Corporation, the parent company of Arizona utility provider Arizona Public Service (APS), by 59% in the third quarter of 2026. The firm now owns 27,806 shares of the utilities provider's stock, valued at $2.49 million.

Why it matters

Pinnacle West Capital is a major utility provider in Arizona, serving over 1 million residential, commercial, and industrial customers. Institutional investors like DNB Asset Management closely monitor and adjust their positions in the company, which can signal broader market trends and investor sentiment around the utility sector.

The details

According to a disclosure with the Securities and Exchange Commission (SEC), DNB Asset Management increased its holdings in Pinnacle West Capital by 10,315 shares during the third quarter of 2026. The firm now owns a total of 27,806 shares, up from 17,491 shares in the prior quarter. Pinnacle West Capital operates the Palo Verde Generating Station, the largest nuclear power facility in the United States.

  • DNB Asset Management disclosed the increased stake in Pinnacle West Capital in a filing with the SEC on March 4, 2026.

The players

DNB Asset Management AS

A Norwegian investment management firm that has increased its stake in Pinnacle West Capital Corporation.

Pinnacle West Capital Corporation

The parent company of Arizona utility provider Arizona Public Service (APS), which serves over 1 million customers in the state.

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The takeaway

The increase in DNB Asset Management's stake in Pinnacle West Capital signals continued investor interest in the Arizona utility provider, which operates the country's largest nuclear power facility and is navigating the transition to renewable energy sources.